Day: February 6, 2020

Ripple (XRP) Bulls Not Out of Woods, Risk of Sharp Rally Grows

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Ripple is rising steadily above $0.2800, while ETH and BTC rallied in the past three sessions against the US Dollar. XRP price is likely to continue higher towards $0.2950 and $0.3000. Ripple price is slowly climbing higher and it recently surpassed $0.2850 against the US dollar. The price traded as high as $0.2880 and it is currently correcting lower. There is a major ascending channel forming with support near $0.2780 on the hourly chart of the XRP/USD pair (data source from Kraken). The bulls are likely to remain in action…

Ethereum Just Broke $220 and $250 Seems Imminent: Here’s Why

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Ethereum price gained more than 10% and broke the key $200 resistance against the US Dollar. ETH even surpassed $220 today and it is likely to continue higher. Ethereum is trading in a strong uptrend above the $200 and $208 levels against the US Dollar. The price is showing a lot of positive and it seems like it could rise further towards $240-$250. There are two key bullish trend lines forming with support near $215 and $205 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is…

India’s First IEO Gives Local Community a Much-Needed Breath of Fresh Air

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Despite regulatory uncertainty and banking restrictions imposed by the Reserve Bank of India, WazirX — the Indian cryptocurrency exchange recently acquired by Binance — launched its WRX coin through an initial exchange offering on Binance Launchpad. On Feb. 5, 2020, WRX coin became available for live trading on Binance. The move was dubbed as a big achievement for the Indian crypto industry, as it will likely lead to global recognition.  Earlier, Cointelegraph reported that the 9,033 winners of WazirX’s token sale on Binance Launchpad were announced. Over 20,000 users participated…

This Observation Suggests the Crypto Markets are About to See Massive Upside

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The aggregated crypto market has been caught within a firm upwards tailwind that has resulted from Bitcoin’s rally up towards $10,000, with this bullishness allowing many major altcoins to post significant gains. Analysts are now noting that the aggregated altcoin market has now broken above a key resistance level, leading many to predict that the markets will soon see significantly further upside. Altcoins Begin Picking Up Steam, But All Eyes Remain on Bitcoin It is clear that Bitcoin, as the benchmark cryptocurrency, has been firmly leading the markets, with most…

Crypto Trading Pioneer Rana Yared Leaves Goldman Sachs

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Financial service powerhouse Goldman Sachs Group Inc. lost another one of its top brass on February 5 after two other executives expressed departure plans several days prior. Goldman Sachs partner Rana Yared plans to exit her position at Goldman Sachs for a VC outfit, a source told Bloomberg for a Feb. 5 article. During her time at Goldman, Yared played a major role in the financial giant’s crypto endeavors.  Goldman in crypto Since 2017, the blockchain and crypto industry has seen an influx of traditional market entities in some capacity.…

Chinese Crypto Mine Stop or Stall Operations Due to Coronavirus Outbreak

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Due to the Coronavirus outbreak in China, the government has taken a series of measurements to keep the situation under control. Businesses are being affected across the nation. With the existing quarantine control, people are staying right at where they are and not be able to return to their work.  A mining farm, in particular, is being forced to shut down during the epidemic. According to BTC.top CEO Jiang Zhuoer’s Weibo moment post on Feb. 4, all the mining machines have been forced to shut down in one of the…

Coinbase and Ripple Push for Regulatory Framework, US Congress Stalls

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A new working group, spearheaded by senior employees of Ripple and Coinbase, is going to advise United States regulators on crypto-friendly policies. But congresspeople are too busy preparing for the upcoming elections, which means that U.S. crypto firms will have to continue hula-hooping through state-by-state regulations in the near future.  Earlier this month, a D.C.-based advocacy group called the Blockchain Association, representing a number of high-profile cryptocurrency firms, launched a working group tasked with pushing for a U.S.-wide regulatory framework. Called the Market Integrity Working Group, the new entity is…

‘95% Confidence’: Ethereum Developers Pencil In July 2020 for Eth 2.0 Launch

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Ethereum’s next system-wide upgrade, Eth 2.0, won’t launch in Q2 2020 as expected, but researchers remain confident the initial network parameters will deploy in 2020. Anything less would be considered a “failure,” they said. In an “Ask Me Anything” Reddit discussion held Wednesday, the Eth 2.0 team said the network won’t launch until three clients can run testnets consistently for a minimum of eight weeks. AMA participants included ethereum co-founder Vitalik Buterin and Eth 2.0 researchers Danny Ryan and Justin Drake. “I have 95% confidence we will launch in 2020,”…

Bitcoin Price Targets $10K as BitMex Open Interest Soars to $1.5B

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The bullish sentiment continues to build in the crypto market as numerous altcoins post double-digit gains on a daily basis. Bitcoin’s spot price (BTC) on crypto exchanges also continues to push higher with the passing of each day and earlier today the price broke above $9,800, extending to $9,862 before pulling back to trade around $9,650.  Crypto market daily price chart. Source: Coin360 Recently published data from Skew Markets shows Bitcoin futures with a May 2020 and June 2020 expiry date rising to $10,000 and above at a handful of…

US Navy Bets $9.5M on Blockchain to Keep Messaging Secret

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The Naval Air Warfare Center, a California-based research group of the U.S. Navy, has given blockchain software startup Simba Chain nearly $10 million to put a secure messaging platform in play.  “The platform will be up this year, with on going updates over the next 4 years,” Simba Chain CEO Joel Neidig told Cointelegraph in a Feb. 6 email.  The Naval research group recently called on Simba Chain to install a safe avenue for communication and transaction, built on the blockchain for the Department of Defense, or DoD, a Feb.…